Chinese shares rise 1.78 percent in the morning trade

Chinese share prices ended Wednesday morning trade up 1.78 percent led by metal and cement stocks on expectations of strong reconstruction demand following the Sichuan earthquake, dealers said.

A significant rebound among banks also helped to support the market.

"Banks tracked the sharp gains in Hong Kong market on Tuesday on speculation of a pause in monetary policy tightening after the Sichuan earthquake," said Hua Xin, an analyst at Founder Securities.

"The disaster is also likely to boost domestic demand for many products, such as nonferrous metals and cement."

Huaxin Cement, Ningxia Saima Industry and Fujian Cement all rose by the 10 percent daily limit respectively.

Meanwhile, 34 listed companies based in the disaster-hit areas resumed trading on Wednesday.

The shares of another 32 remained suspended due to difficulties contacting those companies' headquarters amid communication chaos caused by the 7.9-magnitude quake.

The benchmark Shanghai Composite Index, which covers A and B shares, was up 63.41 points to 3,623.65.

The Shanghai A-share index gained 66.52 points or 1.78 percent to 3,802.22 points, while the Shenzhen A-share index added 21.80 points or 1.87 percent to 1,188.44.

(Agencies)